Gold continues a full-scale downward correction. Decline already reached the area of 61.8% Fibonacci ($1878 for an ounce) and slowed down here. This area is the utmost level for a normal technical correction, therefore there are big odds for upward reversal as uptrend is still valid.
Should the price break the recent low, decline can quite reach the pivot-zone 1779.12-1788.84 (red arrow).
Local downward structure needs a forming of corrective upswing, which can reach one of two PPZ: 1939.00-1940.00 and 1967.86-1978.53. Here sellers can take the driver’s seat again.
Growth in direction 1939.00-1940.00 and 1967.86-1978.53 and each of these zones might trigger a new decline.
Longs in direction 1939.00-1940.00 and 1967.86-1978.53.
Only from April 12, 2021, to May 14, 2021, Deposit Bonus 200% is available for all FortFS clients! Use the advantage to engage for the unique offer within a limited period: activate the deposit bonus and get up to 200% on the deposit amount on your trading account! How to get a Deposit Bonus of […]
FortFS wishes all traders a Happy Chinese New Year! Only from February 8 to March 12, 2021, we reduce spreads for the 4 most popular trading pairs. New values*: EURUSDf: 0.8 GBPUSDf: 0.9 USDJPYf: 1.0 XAUUSDf: 3.5 *These values are valid only for FLEX accounts Hurry up to take advantage of the offer! Learn more about spreads: https://www.fortfs.com/clients/specifications